All Forum Posts by: Andy Nguyen

Nevermind to my question. I was able to find the answer in the BRRRs forum. Thanks all!

Hi Jaysen,

Thanks for the information, as you can see I am not a real estate guru. :-). The renters are more of a family than renters now. They have been good to us. No trouble, on-time payment, and they actually fix/repairs the house for us without even charge us (with OOS rental and first rental, that is important to us). I don't want to sell this house as I want to retire there in the future. The reason why we rented it out was that it used to be our primary resident until we relocated. So what you are saying is I should take Home Equity out of our current primary residence? Renovate the house, rent it, and repeat? With the equity of our primary house and some cash saved. We are able to pay our next house by cash.

I've been reading the different between Home Equity and Cash-out refinance and are quite familiar with the two but do not know the actual costs associated with it. If I were to take out $200,000 of my primary resident.

1) What are the estimated closing costs between the Home Equity Loan and Cash-Out Refinance?

2) Which method of finance will save me the most as for interest rate and closing costs? ( We both have good credit and stable income and good DTI)

Thank you! Any comments/suggestions will be appreciated. This is our first BRRR and is dealing with a lot of money so I just want to make sure I make the best decision with my current situation. Thanks!

Hi Jon,

Create an LLC for each property or one LLC for multiple properties?

Hi all,

First of all, I just want to say that this community has a ton of great information and for the past week I've been reading/observing so much information about real estate. We are looking into real estate investment for passive income/retirement and is interested in the BRRR method.

We currently owned two properties. One out of state rental that is currently rented for $2700 with a mortgage of around $291,000. The house is estimated to be around $620,000. I have another property that is my primary residence currently valued at $246,000 and is paid off.

Based on my situation above.

1. Is it better for me to take out a Cash-Out refinance or Home Equity Loan and which property? The rental or my primary?

Thank you!

Hi all,

My name is Andy Nguyen. I am not a real estate agent. I am just a homeowner that wants to learn more about real estate to invest my money.